Citibank Proposal

Taiwan also known as Formosa from Portuguese meaning "beautiful (island)"), is the largest island of the Republic of China (ROC) in East Asia. Taiwan is located east of the Taiwan Strait, off the southeastern coast of mainland China. Since the end of World War II in 1945, the island group has been under the government of the Republic of China.

In 1991, the number of population in Taiwan is about 19.8 millions people, where most of the people live in the urban (about 72% from the population). The Taiwan GNP in 1988 was US$95.8 millions. Taiwan Per capita income is about $4,837. For the growth with averaging 5 year is 7.3%. Inflation in 1988 is 1.2%. For the economical perspective, Taiwan is one of the best countries in Asia, even in 1997 when the whole Asian got the monetary crisis; Taiwan also suffered a little compared to any Asian countries.

Even there is an issue on the political status of Taiwan, but the political and economical risk on the country is one of the best in Asia. Taiwan is being called “Four Asian Tiger” along side with Hong Kong, Singapore and South Korea. Taiwan is recalled for the manufacturing in technology such as: Bicycle, Biotechnology, Semiconductor device fabrication, Laptops, Smart phones and etc.

With these conducive condition in Taiwan, we strongly recommended and confident to launch the card business. We believe that in coming decades, Taiwan still one of the best economical country in Asia. The stability of the political status in Taiwan also one of the others factor, why we should be enter the business card. The capita income also gibing the right perspective on how much will the people in Taiwan will expense for they need, where about 72% living in urban that is right to our product market.

The reform in banking regulation can be one the factors on the card business. There isn’t any more restriction on the international cards, multiple ownerships, and on revolving credit since 1989. But still the government takes...